a quirky bill has been presented by a congresswoman of the Republic, through which it is sought that the newly born have a pension fund for their retirement and that they would have their first resources through the sale of the mothers’ placenta.
This is Bill No. 1306/2021-CR, by parliamentarian Silvia Monteza (Popular Action). In said proposal, the human placenta would also be declared the property of the newborn, which would be administered in favor of the newborn.
“The purpose of this law is to declare the placenta as an asset owned by the newborn and with the sale of it, capitalize it in an individual account supervised by the State, which can only be used for social security purposes to guarantee his or her pension. retirement”, refers the initiative.
Regarding the evaluation, processing, conservation and declaration of suitability of the placenta, said process would be in charge of specialist doctors and/or a directorate of the Ministry of Health authorized for that purpose.
What parameters would be considered for the sale of the placenta?
The bill provides for the following:
- The parents of the newborn are empowered to have the sale of the placenta and that the total amount of it be paid into a capitalizable individual account, seed capital, for pension purposes in the name of the newborn.
- The quotation and sale of the placenta, declared suitable by the Ministry of Health, will be in charge of the entity supervised by the State in coordination with the Ministry of Health.
- The administration of the capitalizable individual account will be in charge of an entity supervised by the State for that purpose.
- In no case, the parents or the same beneficiary, will be able to have the capitalizable individual account, seed capital, since its purpose is provisional and to grant a basic retirement pension regardless of the employment status that it holds.
Who would administer the pension fund for newborns?
Regarding the pension fund, it would be administered by the State, which must comply with the following obligations:
- Effectively and efficiently manage the funds of the capitalizable individual account of the newborn.
- Ensure the intangibility of the contribution made in favor of the newborn for social security purposes.
- Permanently inform the user of the status of their funds.
When could this fund be available?
The resources that have been accumulated in said fund will be available to people upon reaching the legal retirement age. If at any time you made tax contributions in the National Pension System (SNP) or in the Private Pension System (SPP), the capitalized fund will be a complement to any current system to which the user is affiliated.
The bill also urges the Executive Branch to proceed to issue the corresponding regulation within a period of no more than 90 days if the rule is enacted.